Hudson & Marshall Purchase

[Mary Smith]

Has anyone purchased through Hudson & Marshall before? Trying to see what I should be careful with when dealing with them.

[Curt Smith]

H&M and Hubzu have different types of auctions, one type adds 2% or some large fee to your ending bid.  So you need to remember to subtract that fee from your calculated max offer and hang there.   So I've never gotten deals off M&H and way way back got one off hubzu.

I've bought maybe 12 deals off auction.com REO / bank owned/ auction.com calls them "on line auctions" fewer to no surprise fees on auction.com. All auctions are cash, real cash, not even hard money works since lenders need their appraiser to get into the property. Buy with real cash (anyones cash) then replace with hard money or 30 yr funding after you rehab.

All of my deals where "no access" but I've gotten into every house.  Rough houses are rarely secure...  On the other hand I've never seen anything walking these rough houses that caused me to say no.  I want rough, thats where I / you make money.  

Any auction, any rough house you have to keep your wits and not bid over your MOA, max allowable offer.

On auction.com and probably M&H / hubzu the seller or sellers agent may bid against you until the bid is over the secret reserve number.   Given this knowlege I only put in my max as my first bid and walked away.  There is NO VALUE in inching up the bid when under the reserve.  On auction.com when bid has exceeded the reserve its shown on uppper right.